Fremantle expands film ventures amidst evolving television landscape

Fremantle, the global production powerhouse, recently turned the spotlight on its expanding film ventures and the shifting landscape of mainstream television production during the fourth edition of Iberseries & Platino Industria in Madrid. The panel, comprised of notable executives from Fremantle, discussed the company’s strategic adaptations amid industry challenges. Seb Shorr, Chief Content Operations Officer for global drama at Fremantle UK, Olivia Sleiter, head of production for global drama at Fremantle Italy, and Manuel Martí, head of scripted development for Fremantle Latin America, collectively provided insights into current trends and future prospects in the entertainment sector.

Sleiter highlighted Fremantle’s burgeoning film segment, which now includes 17 active projects generating content for both theatrical releases and television. Referring to Fremantle’s substantial investment in projects such as those involving acclaimed directors like Yorgos Lanthimos, known for unique storytelling, Sleiter illustrated the company’s commitment to diversified and high-quality film production.

Shorr explained the substantial evolution Fremantle has undergone in recent years, integrating film as a significant component of their business model. Nevertheless, he acknowledged the tough financial climate affecting the industry. Production costs continue to rise while broadcasters face financial constraints, impacting their funding capabilities. This has resulted in a structural challenge to finance series and films, with a noticeable shift from prestige genres towards more mainstream content.

Manuel Martí offered that while a push for mainstream content dominates, it doesn’t necessitate a reduction in quality. Producers can enhance mainstream shows by infusing them with complexity and additional layers.

The executives also discussed the resurgence of co-productions due to broadcasters reducing budgets. Shorr emphasized the importance of adapting to this environment, leveraging co-productions to mitigate financial constraints, which he predicts will remain a significant industry trend.

Illustrating these dynamics, Shorr cited Fremantle’s Martin Freeman-led series, “The Responder,” as a “terrific show” that had a successful U.S. sale. However, he noted that under current market conditions, the series would likely be produced at a lower cost due to diminished international interest, reinforcing the need for a strategic shift in production and financing.

Another success story, the Italian series “Costiera,” demonstrated the effective use of co-production models. Initially taken on by Amazon in select European territories, the show’s success led to further international distribution, with Amazon acquiring additional rights owing to its positive reception. It underscored Fremantle’s ability to create widely appealing content while navigating complex distribution arrangements.

Looking forward, Shorr expressed optimism that market conditions may improve in a year or two. Meanwhile, Fremantle is proactively examining the role of artificial intelligence (AI) in the industry. Sleiter mentioned the establishment of internal working groups aimed at leveraging AI’s potential while safeguarding creative talent. She stressed the importance of understanding and integrating AI into various departments and production processes, indicating Fremantle’s forward-thinking approach.

The panel concluded with an acknowledgment that AI’s potential should be harnessed by all, not just industry experts, highlighting Fremantle’s commitment to innovation and adaptation in an evolving entertainment landscape. As the company continues to navigate the challenges of the contemporary media environment, its strategic focus remains on balance — producing compelling content that aligns with market demands and financial realities.

Source: Noah Wire Services